Completed Betsen Financial Statements Assignment

Completed Betsen Financial Statements Assignment - Chapter...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 3 Homework Assignment Prepare the income statement, balance sheet and statement of cash flows for Betsen Boutique using the following information. Include common size statements for the income statement and the balance sheet and outline of major totals for the statement of cash flows. Item 2007 2006 Accounts Payable 12,000 10,700 Accounts Receivable 54,400 55,300 Accumulated Depreciation 30,200 27,900 10,500 9,700 Common Stock 40,500 40,500 Cost of Goods Sold 108,400 92,600 Depreciation Expense 2,300 2,250 Fixed Expenses 7,600 7,000 Interest Expense 3,400 2,900 Inventory 42,700 37,800 32,000 29,800 Other Current Liabilities 8,400 8,600 56,900 53,000 Retained Earnings 22,700 18,200 Sales 150,500 138,200 15,500 13,400 Short-Term Notes 18,700 20,100 Tax Rate 30% 30% Use MS Excel to create these statements. Make sure that all the formulas are in place. You can upload your MS Excel file to the Blackboard Course Site. If you need help creating these statements, read the Basic Financial Statements Exercise that I have posted on Blackboard.You may want to recreate the financial statements following the instructions of this chapter. If you are proficient in excel, you may want to skip
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 8

Completed Betsen Financial Statements Assignment - Chapter...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online